Samvardhana Motherson Acquires 95% Stake in Atsumitec for USD 57 Million

New Delhi, Dec 6 (PTI) Auto components maker Samvardhana Motherson International on Friday said it will acquire 95 per cent stake in Japan-based Atsumitec for USD 57 million (around Rs 482 crore).

The company's board has approved the acquisition via its subsidiary Samvardhana Motherson Automotive Systems Group BV, the company said in a statement.

Honda Motor shall continue to own remaining 5 per cent voting rights shares in Atsumitec Co, Ltd, it noted.

The Japanese firm is engaged in the production of high precision machined components, including gear shifters, chassis and transmission parts, for both four wheelers and two wheelers.

The company has nine facilities spread across Japan, China, United States, Mexico, Thailand, Indonesia, and Vietnam.

Shares of Samvardhana Motherson were trading 1.08 per cent up at Rs 168.85 apiece on BSE.